QinetiQ warns of delays in U.K., U.S. orders

LONDON (MarketWatch) -- U.K. defense and intelligence group QinetiQ
QQ, -3.01%
said it's seen delays in orders from both the U.K. and U.S. governments, so the normal seasonally strong second half won't occur. Its second-half performance is seen broadly similar to the first. The U.S. also hasn't clarified its position on survivability products and unmanned ground vehicles for Afghanistan, the group said. Separately, the company said John Chisholm is retiring as chairman on Feb. 28, to be replaced by Mark Elliott on March 1. Elliott was independent non-executive and the move was anticipated, the company said.

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